The major bulk wine regions in France recorded minimal frost damage, and some dry areas received the long-awaited rainfall. Nevertheless, some prices are rising, likely due to the low harvest volumes in Italy and Spain. Generic white wines and rosés remain in demand. In Italy, there are relatively few price changes; only Soave reports frost damage. Chianti DOCG prices are slightly declining, whereas Grillo from Sicily is on the rise.
In Spain, La Mancha has recently experienced sufficient rainfall, leading to expectations of lower prices following the anticipated larger 2024 harvest. “Buyers with patience should wait until October,” advises an expert. The drought in the eastern part of the country remains severe, especially in Valencia, Castellón, Murcia, and of course Catalonia. However, red wine stocks are full, with stable prices showing a tendency to soften. There is hardly any white wine available.
Sources: Ciatti Global Wine & Grape Brokers, own surveys, chambers of commerce, FranceAgriMer, Med.&A. and Osservatorio del Vino
